Note 7 - Deposits and Borrowed Funds |
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Deposits and Borrowed Funds [Text Block] |
Note 7: Deposits and Borrowed Funds
The following table provides additional detail regarding deposits.
Demand deposit overdrafts of $620 thousand and $995thousand were included as loan balances at December 31, 2023 and December 31, 2022, respectively. Interest expense for aggregate time deposits with individual account balances in excess of $100 thousand was $116 thousand in 2023, $156 thousand in 2022, and $265 thousand in 2021.
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The following table provides additional detail regarding short-term borrowed funds.
The following table provides additional detail regarding short-term borrowed funds.
At December 31, 2023, the Company had uncommitted lines of credit for overnight borrowings from correspondent banks totaling $100 million. Additionally, the Company had access to borrowing from the Federal Reserve up to $996,935 thousand based on the collateral pledged at December 31, 2023. There were no outstanding amounts under the above-mentioned borrowings at December 31, 2023. For the year ended December 31, 2023, the average balances of the above-mentioned borrowings were $-0- thousand. At December 31, 2023, the Company’s estimated unpledged debt securities collateral qualifying for Federal Reserve borrowing totaled $1,945,176 thousand. |